Retirement Systems of Alabama Sells 2,365 Shares of Citigroup Inc. (NYSE:C)

Retirement Systems of Alabama reduced its position in Citigroup Inc. (NYSE:C) by 0.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 418,396 shares of the company’s stock after selling 2,365 shares during the quarter. Retirement Systems of Alabama’s holdings in Citigroup were worth $26,192,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. MONECO Advisors LLC boosted its stake in Citigroup by 2.9% in the second quarter. MONECO Advisors LLC now owns 5,542 shares of the company’s stock valued at $352,000 after buying an additional 157 shares in the last quarter. Lifestyle Asset Management Inc. boosted its stake in shares of Citigroup by 4.5% in the 3rd quarter. Lifestyle Asset Management Inc. now owns 3,730 shares of the company’s stock valued at $233,000 after purchasing an additional 160 shares in the last quarter. Legacy Capital Group California Inc. grew its holdings in shares of Citigroup by 1.0% during the 2nd quarter. Legacy Capital Group California Inc. now owns 16,596 shares of the company’s stock valued at $1,053,000 after purchasing an additional 169 shares during the last quarter. Grove Bank & Trust increased its position in Citigroup by 7.1% during the 3rd quarter. Grove Bank & Trust now owns 2,564 shares of the company’s stock worth $161,000 after purchasing an additional 170 shares in the last quarter. Finally, MWA Asset Management lifted its stake in Citigroup by 1.4% in the 3rd quarter. MWA Asset Management now owns 12,585 shares of the company’s stock valued at $788,000 after purchasing an additional 173 shares during the last quarter. 71.72% of the stock is currently owned by institutional investors and hedge funds.

Citigroup Stock Performance

Shares of Citigroup stock opened at $71.01 on Friday. The business has a 50-day moving average price of $67.28 and a two-hundred day moving average price of $63.65. Citigroup Inc. has a 1-year low of $49.17 and a 1-year high of $73.38. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.55. The company has a market cap of $134.30 billion, a P/E ratio of 20.58, a PEG ratio of 0.80 and a beta of 1.45.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, October 15th. The company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.20. The business had revenue of $20.32 billion during the quarter, compared to the consensus estimate of $19.86 billion. Citigroup had a return on equity of 6.19% and a net margin of 4.70%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $1.52 earnings per share. As a group, analysts anticipate that Citigroup Inc. will post 5.86 EPS for the current year.

Citigroup Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 3.15%. The ex-dividend date of this dividend was Monday, November 4th. Citigroup’s dividend payout ratio is presently 64.93%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on C. Oppenheimer upped their price target on shares of Citigroup from $91.00 to $107.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. The Goldman Sachs Group increased their target price on Citigroup from $72.00 to $81.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Piper Sandler boosted their price target on Citigroup from $73.00 to $80.00 and gave the stock an “overweight” rating in a report on Tuesday, December 3rd. Morgan Stanley lowered their price objective on Citigroup from $86.00 to $82.00 and set an “overweight” rating for the company in a research note on Wednesday, October 16th. Finally, Bank of America boosted their target price on shares of Citigroup from $78.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, Citigroup presently has an average rating of “Moderate Buy” and an average target price of $75.63.

Citigroup Company Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.